Velocity
- 20 Jan 2005 21:49

I suspect trading tomorrow will probably answer this conundrum, but I know there are some far wiser owls than me that contribute to this bb & I would be interested in their opinions.

My question is this: the chart below looks to me like a pullback of the uptrend (ie when it went north through £14.00) however I am unsure as it has now broken down through £14.00 whether this is trending up or down :-(

So what do you think - up or down, or should I just flip a coin :-)) ?

I see no reason to sell now (i.e at the bottom of a bear market).
Dividend yield is currently 3.9% & looks to be reasonably safe.
Hedge funds having a reallly hard time at the moment, with more regulation to come, but EMG one of the better ones, imo.

LONDON (MarketWatch) -- U.K. hedge fund manager Man Group /quotes/comstock/23s!e:emg (UK:EMG 257.50, 0.00, 0.00%) said Thursday that its net profit for the fiscal year ended March 31 fell 86% to $503 million from $3.47 billion. The group said revenue fell 23% to $2.49 billion due to a sharp drop in performance fees. Excluding impairments and amortization charges, pretax profit fell 43% to $1.2 billion. The group said its funds under management at the end of March were $46.8 billion. That figure was $900 million below the level in a pre-close trading update because of a negative performance and the impact of exchange rate moves in the last week of March. Man Group said that since the end of the financial year it has seen strong demand from private investors and that there are signs of stabilization in the hedge fund industry. It added it will keep its final dividend unchanged at 24.8 cents a share.

Gross management fee income for the six months to 30th September 2009 is estimated to be around $650m. Net management fee income is estimated to be around $240m, reflecting the reduced level of funds under management. Net performance fee income is estimated to be around $30m.

Diluted earnings per share on total operations is expected to be around 12.5 cents and underlying EPS, which excludes performance fee income and exceptional items, is expected to be around 10.5 cents.

Man said the financial position remains very strong, with the regulatory capital surplus in excess of $1.5bn at 30th September 2009. "